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Compliance Areas for 2024 You Might Not Have Thought Of

PeopleStrategy

The IRS has made a number of cost-of-living adjustments for 2023, including increasing the amount employees can contribute to their 401(k)s to $23,000 (up $500 from 2023). Participants in these plans who are 50 or older can contribute up to $30,500, starting in 2024.

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10 Employee Incentive Programs to Engage Your Team

Achievers

Offer an extensive catalog so employees can find rewards they crave whether they prefer electronics, fashion, hotel accommodations, or music. Profit sharing. Profit sharing plans are a type of defined contribution plan that can serve as an alternative or supplement to more traditional plans like a 401k.